What They’re Saying – Small Business Tax Cut

Find out what they’re saying about the Liberal Government’s plan to cut small business taxes from 10.5 to 9% by 2019.

Liberal Party of Canada • October 18, 2017

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The Liberal government’s small business tax cut will provide up to $7,500 in tax savings each year for 1.8 million small businesses across Canada. It will allow these job creators to keep more money in their business to invest in their company and their community. But don’t take our word for it, here’s what they're saying:

“A reduced overall small business tax rate will help to drive growth in the agriculture sector and boost the competitiveness of Canadian farmers. As well, changes announced to ‘Tax Planning Using Private Corporations’ proposals are a positive sign that the government understands the concerns voiced by farm groups in recent months.”Ron BonnettPresident, Canadian Federation of Agriculture[Source]

“…the Government of Canada has listened, and is taking action to improve the conditions for entrepreneurial success. This announcement demonstrates that by working together, entrepreneurs and government can create a fair and inclusive economy wherein every entrepreneur is empowered with the environment and culture necessary to build thriving businesses that create jobs for Canadians.”Startup Canada[Source]

“The tax cut announced this morning by Minister Morneau is excellent news for small businesses in all sectors. [...] The economic fabric of Canada and the metropolitan region is largely made up of small businesses. Reducing the tax rate will therefore have a positive impact on our economy as a whole.”Michel LeblancPresident and Chief Executive Officer, The Chamber of Commerce of Metropolitan Montreal[Translation, Source]

“I am pleased to see the government make good on its commitment to lower the small business rate by 2019. This decision will pump hundreds of millions of dollars back into the small business community, helping them create more jobs and grow the economy."Dan KellyPresident of the Canadian Federation of Independent Business (CFIB)[Source]

“The Quebec Employers' Council obviously appreciates the federal government's decision to reduce the tax rate for small businesses since this measure will allow entrepreneurs in Quebec and across the country to remain competitive domestically and internationally, by providing some flexibility. This is very good news for entrepreneurs and their development.”Yves-Thomas DorvalPresident and Chief Executive Officer, Quebec Employers' Council[Translation, Source]

“Today's announcement clarifies the intent of the government and is a far more supportable package overall. While there are details still to be worked through in some areas, the refinement of the reasonableness test on dividend distributions is a decision we can get behind. In combination with the announcement of a track to lower the small business tax rate, today marks an important reset in the relationship between the government and retail entrepreneurs.”Diane J. BriseboisPresident and CEO, Retail Council of Canada[Source]

“Today's announcement by the Trudeau government will make it easier for convenience store owners to operate their businesses and serve their local communities. Equally important, we thank Ministers Morneau and Chagger for listening and acting on feedback from business owners during the consultation period.”Satinder CheraPresident, Canadian Convenience Stores Association (CCSA)[Source]